Int. Montoro & Belmont Review the Uranium Potential of their 12,091 Ha. Uranium City, Sask. Claims

Posted: January 30, 2017

Vancouver, B.C. Canada, January 30, 2017 – International Montoro Resources Inc. (TSX.V: IMT; FSE: O4T; (“Montoro”, or the “Company). 

As a result of recent inquiries and interest in uranium worldwide, the Company and its 50/50 partner –Belmont Resources Inc. (TSX.V: BEA), are reviewing potential joint venture/option avenues. During the period 2006 – 2011 Montoro & Belmont incurred $1.97 million in property acquisition and development costs on its 12,091 ha Uranium City, Saskatchewan claims.

Uranium Industry Overview

MINING.com expects “the period from 2017-2020 to be a landmark period for the nuclear sector and uranium stocks, as the global operating nuclear reactor fleet expands.”  First and foremost, the world is building more nuclear reactors right now than ever before. 

Uranium analyst David Talbot of Dundee Capital Markets was forecasting 6 percent compound annual demand growth through 2020, which is enough, he says, to “kick-start” uranium prices up to and beyond 2007 levels. Up to 20% of the uranium supply needed to operate the world’s existing nuclear reactors for the rest of this year and next is not covered. Morningstar analyst David Wang predicted prices will double within the next two years.

World Nuclear Association (“WNA”) – The WNA reports that there are 440 nuclear reactors operable in 30 countries as of March 1, 2016.  A total of 65 nuclear reactors are under construction in 14 countries with the principal drivers of this expansion being China (24), Russia (8), India (6), the United States (5), South Korea (3) and UAE (4).  Based on the most recent statistics from the WNA, there are a total of 238 reactors that are either under construction, or planned around the world, and an additional 337 reactors that are proposed, with the potential to be operating by 2030.

Visual Capitalist – Chart: Can Uranium Be Great Again? By Jeff Desjardins – January 27, 2017 http://ow.ly/SKfq308qCZS

Review of IMT/BEA Uranium City, Sask. claims (as previously filed on SEDAR and our websites):

Crackingstone claims -  982 ha

February 2007 – Completed 87 km line-cutting program consisting of establishing grid lines and a Mag/VLF-EM ground geophysical survey over 750 ha.

August-October 2007 – Channel (278) and grab (12) sampling program with samples assaying over 0.59% U3O8 and a radon gas survey.  Radon gas survey covered approx. 4.65 km at 50 meter sample intervals (93 samples) around the intersection point of the Crackingstone and Boom Lake faults.

October 2007 – MPX Geophysics Ltd. conducted 1,391 km of helicopter airborne magnetic and radiometric survey -100 meter flight line spacing over Crackingstone & Orbit claims

July 2008 – Completion of a 20-hole diamond drill program totaling 3,075 meters, and confirmed the presence of uranium mineralization for a strike distance of 1800 meters.   Eight of the holes tested a 600 meter strike length long conductor starting from the Beck 94 showing.  Assays graded up to 0.37% U3O8 (7.4 lbs./ton), included intersections of 0.3 m assaying 2.087% U3O8 (41.74 lbs./ton) including a 3.0 m intersection assaying 0.36% U3O8 (7.19 lbs./ton); 10.6 m intersection including 0.4m intersection assaying 0.182% (3.64 lbs./ton) and many others.

Orbit claims – 11, 109 ha

April 2008 – Completed Aeroquest Airborne magnetic/electromagnetic survey.  Consisted of 1,319 line km’s using the Aerotem IV system.  Confirmed 19 electromagnetic conductors of which 6 have significant strike length from 1 km to 3.5 km.  Four of the conductors are coincident with significant radioactive zones detected in the 2007 airborne survey (see October 2007 above) and historical uranium showings.

September 2011 – Conducted a sampling program on three NE linear radiometric (U) anomalies which transected the property from the southwest corner at Orbit Bay to the northeast corner of the claim group at Orbit Lake.  Results included numerous rare earth elements. Further results can be reviewed in the December 5, 2011 news release and posted in Tables 1-6 –titled ‘2011 Sampling Program’ on the Crackingstone/Orbit property pages on the website.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery.  The southwestern portion of the property has also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium. The property comprises 10 mineral claims (115 units), approx. 1,840 ha.

Montoro holds a 100% interest in 2,268 ha (5 claims, 5,604 acres, the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.

In addition the Company owns with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Musil

Gary Musil, President

CEO/Director

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Companies forward-looking statements and expectations.

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